Stents Market Size, Share, Growth Analysis, By Product Type(Coronary Stents, Peripheral Stents, Stent Related Implant), By Material(Metallic Biomaterial, Polymer Biomaterial, Natural Biomaterial), By End User(Hospital, Ambulatory Surgical Centers, Others), By Region - Industry Forecast 2024-2031

Stents Market Driver

• The growing prevalence of cardiovascular diseases will drive market figures. The growing prevalence of cardiovascular illnesses worldwide is expected to boost stent market growth in the future years. The growing number of chronic illness patients is predicted to stimulate demand for percutaneous coronary intervention and peripheral vascular operations. According to the World Health Organization (WHO), an estimated 17.9 million fatalities attributable to cardiovascular diseases (CVDs) are reported each year, accounting for roughly 32% of all global fatalities. As the number of people suffering from cardiovascular diseases rises, so will the demand for percutaneous coronary intervention and peripheral vascular operations, fueling the demand for stents.

Stents Market Restraint

• Strict regulatory permissions function as a roadblock to market expansion. Several agencies and government groups have established rules and recommendations for the effective and safe use of stents. Before approving stents, the FDA, for example, conducts a systematic examination of the literature and pre-clinical experiments in animals. Furthermore, approval of a medical device is believed to be resource-intensive (both in terms of time and money) because coronary stents fall within the USFDA's category III device. Because of the problems involved with the use of these devices, strict controls have been set on stents devices. Because of the potential for deadly results, the FDA closely monitors the use of stents in the United States. Furthermore, stents are classified as class II and class III medical devices, posing medium to high risk. These devices are subjected to comply with strict regulatory compliances, thereby hampering the overall market demand.